Hello Grasshoppa,

Received your salary & start thinking about how to spend your salary? Or having thoughts on how to keep money with your current monthly commitment? Do you think your salary is not high enough to keep up with the commitment?

This is something some of us might struggle everyday or every month. At the end of the month, we might notice that our bank account are empty. Why? Is it because our salary are too low or that our commitment are too high?

I have tried several ways to save up some money effectively & it is not as hard as what it seems. All we have to do is to take our first step to commit to it & it will eventually be our habit. So what are the Effective Ways to Save Money From Your Daily & Monthly Spending?

This are the 4 Effective Ways that I have used to Save Money from My Daily & Monthly Spending :

Daily : 

First before we start to look at How to Save Money from Daily Spending, I recommend you to have a small saving box where you can keep your money. Currently I am using a plastic drawer to store my Daily Savings. I am splitting it to 2 compartment. 1 is for Cash Savings & another 1 is for my House Loan. PS : For the House Loan, it is extra amount that I will pay on top of my monthly House Loan commitment to shorten the years of repayment. 

1. Save Before You Start The Day
   Estimated Monthly Saving : RM300-RM450
   This is part of my daily routine wherby before I start my day, I will put aside between RM10-RM20. Why do I choose to keep RM10-RM20 a day instead of deducting that amount from my monthly income? I find it to be a healthy habit & it makes me more discipline as well.
2. Keep Your Daily Change
   Estimated Monthly Saving : RM50-RM200
   This can be done by keeping coins & smaller notes at the end of my day. What I usually do is I will keep aside all my smaller notes between RM1-RM9 to round up my cash at the end of the day. Whenever I start my new day tomorrow, I will not have additional small notes to start my day.

Total Estimated Savings : RM350-RM650/Month

Monthly : 

It is a similar concept that I am using to for my Cash or Emergency Savings.

1. Save First Before Pay For Any Commitment
   Estimated Monthly Saving : RM500-RM1000
   This is the first thing that I will usually do when I receive my monthly salary. It is an important habit for you if you are serious about saving more money.
2. Keep Your Monthly Change
   Estimated Monthly Saving : RM200-RM400
   It might sound hard but its actually not if you are spending frugally. I try to keep my spending low by eating the meal that is worth the price & buy the things I really need. With my monthly budget for daily expenses, Im able to save up to RM400 a month.

Total Estimated Savings : RM700-RM1400/Month

Grand Total Estimated Savings Per Day + Per Month : RM1050-RM2050/Month

Conclusion :

So How to Start to Save Money, the Best Tips is to Keep Your Commitment Low. Relook at your current daily expenses & monthly expenses. Im sure there is a gap where you can minimize your expenses. And before you said it is impossible, I am challenging you to try this. You can start with as low as RM5-RM10 for your Daily Expenses & as low as RM100-RM300 for Your Monthly Expenses. You can always reach me via Contact Me & I will be more than happy to guide you to ensure you are able to save more money.

Once you start to Save More Money, now its the time for you to Grow Your Money by Investing. I have some past article about Investment that you can refer to Guide You On Your Investment Journey :

1. Private Retirement Scheme (PRS)
2. Mutual Fund
3. What Can You Invest With RM1000
4. Gold
5. P2P Lending

OSS!